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Raleigh Home Buying Closing Costs
Buyer Side

Closing costs are the fees associated with buying or selling a Raleigh Home that are aside from the price of the home. These fees are also called Raleigh Settlement costs.

Some of the closing costs are the responsibility of the Raleigh Home Buyer and some are the responsibility of the Raleigh Home Seller. There's some closing costs that are negotiable between both buyer and seller.

Raleigh Buyer Closing costs can be grouped into the following categories.

Raleigh Lender fees
These are fees connected with getting a Raleigh Home Mortgage. They can include:
• Credit Report Fee
• Application Fee
• Appraisal Fee
• Loan Origination Fee
• Private Mortgage Insurance (PMI)
• Commitment Fee
• Discount Points
• Underwriting Fee
• Tax Service Fee

Raleigh Expenses/Escrows
These are funds that the lender requires to be put in an Escrow account. These funds are collected for tax and insurance payments and may include:
• Prepaid Interest
• Raleigh Homeowners Insurance
• Raleigh Real Estate Tax

Raleigh Prorated Expenses
Prorated expenses are costs that are split between the buyer and seller that cover the time that each one owned the home.

For instance, consider Raleigh Home Owner Association fees.

The seller may have paid the HOA for the month of June on June 1. You buy the home on June 20th. At closing, the cost of the HOA from June 21st to June 31st will be charged to you (because you live there now) and credited to the seller (because they don't live there now).

Any dues, property taxes, and special assessments that are prorated by the days of each person's ownership.

Raleigh Vendor Fees/Service Fees
These are fees paid to individuals or companies who provide some type of service involved with the home purchase. These fees can include:

• Attorney Fees
• Raleigh Title Insurance
• Recording and processing Fees
• Raleigh Survey
• Raleigh Termite Inspection
• Raleigh Home Inspection
• Raleigh Radon Inspection
• Raleigh Mold Inspection
• Raleigh Radon Inspection
• Raleigh Home Warranty

Other aspects of the closing procedure are From Contract to Closing - What is Happening?, What Do I Bring To Closing - Buyers Viewpoint and Your Closing Appointment - Buyers Viewpoint.

If you have questions about Raleigh Closing Costs or any Raleigh Homes
Email Us or Call Us Today at 919-280-2726

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